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Trade Exchange between Egypt, France records $2.5B in 2016/17

Thu, Apr. 19, 2018
CAIRO – 19 April 2018: Trade exchange between Egypt and France recorded $2.5 billion (LE 44.18 billion) in the fiscal year 2016/2017, Manager of Business France Office in Egypt Ludovic Prevest said.

Prevest expected further increase of the trade exchange between the two states in the current fiscal year 2017/2018.

He emphasized the importance of Egypt as a trade partner for France, adding that France ranks 11th in Egypt trade partners’ list.

About Sial Paris Exhibition, Prevest said that it targets to increase the trade exchange between the two states and strengthen the economic relations between Egypt and the European Union.

SIAL PARIS (The Global Food Marketplace) is a trade fair held every two years, which specializes in the food processing industry. This event was first held in 1964 in Paris. It will take place this year from October 21 to 25.

He said that 109 Egyptian companies participated in the last edition of the exhibition, expecting this number to increase in the upcoming event.

Minister of Industry and Foreign Trade Tarek Kabil said earlier that Egypt’s exports to France increased 36.4 percent in 2017 to record €572 million (LE 12.42 billion), compared to €420 million in 2016.

Kabil added that trade exchange between Egypt and France rose 21.8 percent in 2017 compared to the previous year.

Egypt's non-oil exports rose 10 percent in 2017 to $22.42 billion, up from $20.41 billion in 2016.

Egyptian goods became attractive to foreign markets after the floatation of the state’s currency in November 2016, losing 50 percent of its value, which is reflected on the increased exports.
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